Wayne Gilmore Discusses the Importance of Wealth Management

By Paul Joseph

Wealth management is more important than ever before. With governments around the world tightening financial regulations, high-net-worth individuals are having to rethink the way they look after their money.

Step forward PNC Wealth Management. Boasting an “integrated investment approach”, they claim to be the perfect one-stop shop for all of your wealth management needs.

To find out more, we sat down with Wayne Gilmore, Wealth Director of PNC, at the recent Fort Lauderdale International Boat Show. He began by telling us how important wealth management is for the ultra high-net-worth individual.

“Our clients tell us it’s very important – in fact we have a team based solution for our clients,” he said. “In addition to that we offer an integrated investment approach and then lastly, it’s the ability for us to offer customised solutions for our clients. These three things taken together are critical for our clients to achieve success.”

“We’ve been in the business for over 150 years, helping families to grow, preserve and transfer their wealth to other generations. So on a basis of building relationships our business has really expanded, and we’ve seen that from the perspective of record client growth, and from client satisfaction scores greater than 90 per cent, and our clients continue to give us more and more of their banking business and their wealth management business.”

He then went to talk about some of the challenges facing ultra high-net-worth individuals when it comes to managing their wealth.

“I think our clients face a variety of different challenges,” he said. “They come from a diverse variety of backgrounds, and you overlay that with many of the economic issues and concerns that are in the marketplace.

“For example, some of our clients come from blended families or they are trying to retire and asking about what is the standard of living they can continue, or they have a business and asking what is going to be the succession of that business.

“So there’s a myriad of issues that they’re trying to contemplate and I think if you overlay that with some of the economic issues that are occurring such as the debt ceiling, budget negotiations and the shutdown of the government, I think the real ability of our organisation is how do you navigate through all these issues and make a simple, easy-to- understand strategy for our clients to achieve their goals.”

You can watch the full video interview with Wayne Gilmore above this article.

By Paul Joseph